N. DEWERT: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
N. DEWERT
Largest movements
- Tangible fixed assets -€47,164
down €47,164 (-94.7%), from €49,782 to €2,618
- Current investments +€30,000
new in 2025: €30,000
- Cash +€6,709
up €6,709 (+642%), from €1,045 to €7,754
mainly Investment in fixed assets (net) (+€46,020) and Trade debts (+€2,705)
- Receivables within one year +€5,140
up €5,140 (+159%), from €3,243 to €8,383
- Debts after one year -€8,617
down €8,617 (-39.4%), from €21,893 to €13,277
- Trade debts +€2,705
up €2,705 (+1,058%), from €256 to €2,961
- Tax, wage and social debts +€2,682
up €2,682 (+101%), from €2,650 to €5,333
- Other debts -€2,580
down €2,580 (-52.3%), from €4,931 to €2,351
- Other operating charges +€16,785
up €16,785 (+1,769%), from €949 to €17,734
- Gross operating margin +€12,431
up €12,431 (+97.2%), from €12,794 to €25,225
- Financial charges +€5,830
up €5,830 (+11,061%), from €53 to €5,883
- Depreciation +€1,144
new in 2025: €1,144
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Derived cash bridge
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €54,969 | €49,488 | -€5,481 | -10.0% |
| Fixed assets | 21/28 | €50,145 | €2,981 | -€47,164 | -94.1% |
| Tangible fixed assets | 22/27 | €49,782 | €2,618 | -€47,164 | -94.7% |
| Plant, machinery and equipment | 23 | €49,782 | €2,618 | -€47,164 | -94.7% |
| Financial fixed assets | 28 | €363 | €363 | = | 0.0% |
| Current assets | 29/58 | €4,824 | €46,507 | +€41,683 | +864% |
| Amounts receivable within one year | 40/41 | €3,243 | €8,383 | +€5,140 | +159% |
| Trade receivables | 40 | €3,243 | €8,383 | +€5,140 | +159% |
| Current investments | 50/53 | - | €30,000 | +€30,000 | |
| Cash at bank and in hand | 54/58 | €1,045 | €7,754 | +€6,709 | +642% |
| Deferred charges and accrued income | 490/1 | €537 | €370 | -€166 | -31.0% |
| Total equity and liabilities | 10/49 | €54,969 | €49,488 | -€5,481 | -10.0% |
| Equity | 10/15 | €11,962 | €12,290 | +€328 | +2.7% |
| Contributions | 10/11 | €8,060 | €8,060 | = | 0.0% |
| Profit (loss) carried forward | 14 | €3,902 | €4,230 | +€328 | +8.4% |
| Amounts payable | 17/49 | €43,007 | €37,198 | -€5,809 | -13.5% |
| Amounts payable after more than one year | 17 | €21,893 | €13,277 | -€8,617 | -39.4% |
| Financial debts | 170/4 | €21,893 | €13,277 | -€8,617 | -39.4% |
| Amounts payable within one year | 42/48 | €21,114 | €23,921 | +€2,808 | +13.3% |
| Current portion of amounts payable after more than one year | 42 | €13,277 | €13,277 | = | 0.0% |
| Trade debts | 44 | €256 | €2,961 | +€2,705 | +1,058% |
| Suppliers | 440/4 | €256 | €2,961 | +€2,705 | +1,058% |
| Taxes, remuneration and social security | 45 | €2,650 | €5,333 | +€2,682 | +101% |
| Taxes | 450/3 | €2,650 | €5,333 | +€2,682 | +101% |
| Other amounts payable | 47/48 | €4,931 | €2,351 | -€2,580 | -52.3% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | - | €1,144 | +€1,144 | |
| Other operating charges | 640/8 | €949 | €17,734 | +€16,785 | +1,769% |
| Gross operating margin | 9900 | €12,794 | €25,225 | +€12,431 | +97.2% |
| Operating profit (loss) | 9901 | €11,845 | €6,347 | -€5,498 | -46.4% |
| Financial income | 75/76B | €100 | €0 | -€100 | -100.0% |
| Recurring financial income | 75 | €100 | €0 | -€100 | -100.0% |
| Financial charges | 65/66B | €53 | €5,883 | +€5,830 | +11,061% |
| Recurring financial charges | 65 | €53 | €5,883 | +€5,830 | +11,061% |
| Profit (loss) for the period before taxes | 9903 | €11,892 | €464 | -€11,428 | -96.1% |
| Income taxes | 67/77 | - | €136 | +€136 | |
| Profit (loss) for the period | 9904 | €11,892 | €328 | -€11,564 | -97.2% |
| Profit (loss) for the period to be appropriated | 9905 | €11,892 | €328 | -€11,564 | -97.2% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 19 October 2026 via checked.be.